Source: TECHNICOLOR
TECHNICOLOR: TECHNICOLOR WITHDRAWS FROM THE HEVC ADVANCE POOL TO ENABLE DIRECT LICENSING OF ITS HEVC IP PORTFOLIO
PARIS, Feb. 3, 2016 (GLOBE NEWSWIRE) -- Technicolor (Euronext Paris: TCH; OTCQX: TCLRY) has decided to license its HEVC IP portfolio directly to device manufacturers rather than through the HEVC Advance patent pool in order to accelerate adoption of the standard.
Since the emergence of the HEVC Advance pool, various players have delayed adoption of HEVC technologies and redirected their investment into alternative technologies. However, HEVC is today the best video compression technology to meet industry needs, such as the shift towards next generation video formats like UHD and HDR. As a leading developer and proponent of HEVC technology, Technicolor strongly believes that the rapid and widespread adoption of a unified technology is the best outcome for the industry and for Technicolor.
Following this decision, Technicolor has signed a material patent license agreement for the use of its patents related to HEVC technologies. With this first deal, Technicolor seeks to pave the way for the industry to adopt the HEVC standard and encourage other patent holders to enter into similar agreements. As a further incentive for rapid adoption, Technicolor has chosen to license its patents for use in devices and does not plan to license industry players for content streaming.
This early licensing success demonstrates the quality of Technicolor's IP position in the HEVC standard and provides evidence of the Group's ability to generate value more effectively than would have been possible through participation in a patent pool.
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About Technicolor
Technicolor, a worldwide technology leader in the media and entertainment sector, is at the forefront of digital innovation. Our world class research and innovation laboratories enable us to lead the market in delivering advanced video services to content creators and distributors. We also benefit from an extensive intellectual property portfolio focused on imaging and sound technologies. Our commitment: supporting the delivery of exciting new experiences for consumers in theaters, homes and on-the-go.
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Technicolor shares are on the NYSE Euronext Paris exchange (TCH) and traded in the USA on the OTCQX marketplace (OTCQX: TCLRY).
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